# Nike shares have plunged 31% since the beginning of the year.

*business · news · 2026-04-10 · CNBC*

## Key points

- Piper Sandler downgraded Nike to neutral and cut its price target to $50 from $60.
- Nike's stock remains expensive at 22x projected FY28 earnings despite a 31% YTD decline.
- Nike forecasted a 2% to 4% sales dip for the fiscal fourth quarter, missing analyst expectations.
- Piper Sandler cites delayed impact of Nike's strategy shift and rising athleisure competition as concerns.

**Companies:** Nike
**Countries:** United States

[Read the full story on CNBC](https://www.cnbc.com/2026/04/10/nike-shares-are-still-not-cheap-after-30percent-drawdown-this-year-says-piper-sandler.html)

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